Caterpillar Inc. reported a record quarter with sales and revenues of $7.56 billion and profit of $552 million, or $1.55 per share.

First half of the year results were also records, with company sales and revenues of $14.03 billion and profit of $964 million, or $2.71 per share.
Second-quarter sales and revenues were $7.56 billion, up $1.63 billion or 27% compared to $5.93 billion in the second quarter one year ago.
Profit of $552 million was up $153 million or 38% percent compared to $399 million in the second quarter of 2003.
Caterpillar Chairman and CEO Jim Owens said, "We achieved record results in the second quarter as demand continued to surge and volume remained high across major industries and geographic markets.
"We have increased investment in our products, a trend we expect to continue in the second half of 2004," Owens said. "Most notably, we are the only company to obtain EPA certification for a full line of off-highway engines for 2005 and 2006. The first Cat machines powered by ACERT technology will reach the market in October 2004, before other manufacturers and well in advance of the required implementation dates. This solidifies our position as the leader in clean-diesel engine technology.
"We are increasing our full-year outlook and now expect 2004 sales and revenues to be up about 25% and profit per share to be up 80% to 85% compared to 2003. In our previous outlook, we expected sales and revenues to increase about 20% and profit per share to be up 65% to 70% compared to 2003.